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line of credit
noun phrase
: the maximum credit allowed a buyer or borrower
also
: an agreement providing credit up to a certain amount
Examples of line of credit in a Sentence
Recent Examples on the Web
The company is managing its cash flow through a line of credit from the Industrial and Commercial Bank of China.
—Quartz Bot, Quartz, 14 Nov. 2024
This is why Synchrony has introduced a new initiative to connect a leading pet health insurance company, Pets Best Insurance, with Care Credit, a line of credit.
—Jessica Ourisman, Forbes, 3 Nov. 2024
Klein explained that there's a $650,000 line of credit with $500,000 drawn on it.
—Hannah Kirby, Journal Sentinel, 19 Oct. 2024
Benefits of a business line of credit: • Flexible access to funds as needed.
—Joseph Lustberg, Forbes, 23 Oct. 2024
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Word History
First Known Use
1917, in the meaning defined above
Dictionary Entries Near line of credit
Cite this Entry
“Line of credit.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/line%20of%20credit. Accessed 24 Nov. 2024.
Legal Definition
line of credit
: an agreement specifying the maximum amount of credit allowed a borrower
More from Merriam-Webster on line of credit
Britannica.com: Encyclopedia article about line of credit
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